Prabhudas Lilladher has maintained its outperformer rating on Pfizer with a target price of Rs 732 in its July 1, 2008 research report. "We expect the company to report 7% CAGR net sales and 14% CAGR net profit over FY07-09. We also expect its EBIDTA margin to improve from 22.5% in FY07 to 24.7% in FY09 due to the restructuring."

"At the CMP of Rs 551, the stock trades at 11.3x FY08E EPS of Rs 48.9 and 9.8x FY09E EPS of Rs 56.3. We maintain Outperformer rating on the scrip with a price target of Rs 732 (13x FY09 earnings) over the next 12 months, an upside of 33.0% over the CMP," says Lilladher's research report.

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